Eu Financial News

private investment, but government money will be needed first. The London conference set out to galvanise support from development banks and Western backers as well as tempt businesses to consider a reformed Ukraine as a place to invest. Many countries have a vital interest in Ukraine succeeding and Russian aggression being seen to have failed, but these are straitened times.

TikTok, Amazon, Instagram, Snapchat and other major tech companies operating in Europe are confronting an extensive effort to clean up online content, AP reported. The first phase of the European Union’s new new digital regulations, known as the Digital Services Act (DSA), is set to become effective from this Friday, August25. The DSA, a part of a suite of tech-focused rules developed by the 27-nation bloc, aims to enhance online user safety and prevent the spread of illegal or harmful content, including content violating platform terms of service, such as promotion of genocide or anorexia.

Microsoft has revamped its bid to buy video game maker Activision Blizzard to appease British competition regulators

Joe Biden and slew of other world leaders will visit India in the second week of September for the G20 Summit. The main event will be held in the national capital on on September 9-10 and is likely to be attended by 29 heads of states as well as top officials of the European Union and invited guest countries and 14 heads of international organisations. Multiple hotels in the Delhi-NCR have been earmarked for attendees.

Google, Facebook, TikTok and other Big Tech companies operating in Europe are facing one of the most far-reaching efforts to clean up what people encounter online

British competition regulators have opened a new investigation into Microsoft’s revamped bid to buy video game maker Activision Blizzard

By Kate Holton and Paul Sandle

reality for thousands of European startups, many of which have had to scale back expansion plans as venture-capital funding plunges following sluggish economic growth and rising interest rates. Improved returns now offered by bonds and other relatively safe investments have drawn many European investors away from riskier, less familiar asset classes such as startups. Venture-capital funding has dropped significantly in the U.S.

exporters have to take urgent steps like devising mechanisms for monitoring emissions data, and providing incentives for the adoption of greener technologies to deal with the European Union's carbon tax as it would impact exports of sectors like metals, a report said. Suggesting a nine-step action plan, the report by Global Trade Research Initiative (GTRI) said that Indian firms have less than 40 days to prepare for the CBAM (carbon border adjustment mechanism) transition. The CBAM or carbon tax (a kind of import duty) will come into effect from January 1, 2026, but from October 1 this year, domestic companies from seven carbon-intensive sectors, including steel, cement, fertiliser, aluminium and hydrocarbon products, will have to share data with regard to carbon emissions with the EU. «The CBAM tax will start from January 2026, but there are penalties on not reporting, negligent reporting or mis-reporting of data from October 1, 2023, onwards,» GTRI co-founder Ajay Srivastava said. He said that the transition period for the tax, starting October 1, brings extensive data compliance requirements for Indian exporters. The GTRI suggestions assume significance as the EU on August 17 notified compliance requirements for the CBAM transition period, which starts from October 1 this year. «The CBAM documents exceed 800 pages of complex legal, technical texts, necessitating thorough understanding by the government and industry,» he added. The CBAM will translate into a 20-35 per cent tax on select imports into the EU starting January 1, 2026. India's 26.6 per cent of exports of iron ore pellets, iron, steel, and aluminium products go to the EU. These products will be hit by CBAM.

Microsoft Corp.'s $69 billion acquisition of Activision Blizzard Inc., following a substantial alteration to the proposed merger by the tech giant. This move, as reported by Bloomberg effectively resets the acquisition process to its initial stages, as announced by the country's antitrust watchdog on Tuesday. In an uncommon development, the Competition and Markets Authority (CMA) declared that it was reevaluating Microsoft's offer after the company indicated its intention to sell the rights of all present and future Activision games for the next 15 years to Ubisoft Entertainment SA.

crude oil imports from Russia dipped for the first time in nine months, while inbound shipments from Saudi Arabia tumbled to their lowest in 2-1/2 years following OPEC+ cuts, tanker data from trade and industry sources showed. Both China and India, the world's biggest and third-biggest oil importers, cut imports from Russia and Saudi Arabia in July after prices rose and as the two oil producers reduced output and crude oil shipments. Saudi Arabia volunteered to cut output by another 1 million barrels per day (bpd) from July through September, and Russia will reduce exports in August by 500,000 bpd, part of a deal among members of the Organization of the Petroleum Exporting Countries and its allies, a grouping know as OPEC+, to curb supplies and support prices. India's overall imports also declined 5.2% from June to 4.4 million bpd oil in July, the data showed, as several refining plants are shut for maintenance during monsoon season.Russian oil imports declined 5.7% to 1.85 million bpd and Saudi shipments fell by 26% to 470,000 bpd, the data showed. India imports more than 80% of its overall oil needs. Indian refiners that have been diversifying their oil import sources to cut costs began snapping up Russian oil at a discount as some Western companies stopped purchasing from Moscow following its invasion of Ukraine in February 2022. India's import of Russian oil may now decline further in August and September, however, as refiners plan maintenance at their plants and as Russian crude prices are above the $60-a-barrel ceiling imposed by the European Union and G7 economies after spot discounts shrank, sources said. Russia was still the top oil supplier to India in July, though, followed by Iraq and Saudi Arabia.

A mysterious Bitcoin wallet has surged up the ranks to become the third largest holder Bitcoin (BTC) in the world in just over three months, with the timing sparking some wild theories about its owner.

EcoSoul Home aims to accelerate the movement towards a sustainable lifestyle by tapping Earth’s most renewable sources. With a diverse range of products in kitchenware, dinnerware and cutlery, the brand claims to drive the 3As of sustainability — awareness, availability and affordability.

Gas prices in Europe have surged due to concerns over possible strikes at a liquefied natural gas (LNG) plant in Australia. The Offshore Alliance union has issued a warning about a potential strike at Australia's North West Shelf facility, scheduled to begin as soon as September 2 if salary negotiations remain unresolved. Bloomberg reported a roughly 10% increase in benchmark gas prices for the European Union and the United Kingdom on Monday. While gas prices had surged following Russia's incursion into Ukraine, they had subsequently decreased. Apprehensions revolve around the North West Shelf facility's role in supplying LNG globally as Australia is a prominent supplier. Alongside this facility, Chevron-operated Gorgon and Wheatstone offshore LNG plants are also undergoing strike votes, with outcomes expected on Thursday. These three plants constitute approximately 10% of the global LNG supply. Ben McWilliams, an associate fellow at Bruegel, a think tank, cautioned that these strikes could have repercussions on worldwide LNG prices. As a response to Russia's reduction in natural gas supplies during the Ukrainian conflict, countries sought alternative energy sources, with LNG being a prominent choice. Australia, alongside Qatar and the United States, is a major global LNG exporter. Cornwall Insight, a research firm, has predicted that the uncertainty surrounding Australia's gas supply could lead to significantly higher gas prices and contribute to a substantial rise in Ofgem's price cap by January. It anticipated a rise in the price cap from £1,925.71 in Q4 2023 to £2,082.56 for a typical annual household bill in Q1 2024.

Broadcom's planned $61-billion takeover of cloud computing firm VMware, which the US chipmaker said should be completed by the end of October. The Competition and Markets Authority last month gave its provisional approval to the deal announced in May 2022, and said on Monday that «its final decision is that the deal does not substantially reduce competition — clearing it to proceed in the UK». Broadcom is seeking to expand into the software market to boost its server business and has already acquired two complementary firms, CA Technology and Symantec. VMware's key product allows different clients to share computer servers by creating what is called a virtual server. British regulators conducted a more in-depth probe into whether the merged company would have an interest in hobbling rivals by making its products work less well or be incompatible. It also examined whether the merged company would gain undue advantage by rivals needing to submit information to make their products interoperable. The CMA found that restricting product interoperability would cause the merged company greater financial losses than gains, and that it would not gain competitive advantage when rivals provided it with product information to ensure that interoperability. «In this case, having carefully considered the evidence and found no competition concerns, we have concluded the deal can go ahead,» said Richard Feasey, chairman of the independent panel that carried out the in-depth probe of the merger. The European Union gave its approval to the merger last month and Broadcom said on Monday that United States authorities did not take action to block the deal during the statutory waiting period. In a statement, Broadcom «affirmed its expectation

A study conducted by virtual currency gambling platform cryptogambling.tv looked at the highest number of internet searches involving a number of crypto-related terms and then ranked these numbers according to population size.

British Prime Minister Rishi Sunak is set to spend $130 million (100 million pounds) to buy thousands of computer chips to power artificial intelligence, amid a global shortage and race for computing power.

Hungary has struck a deal with Serbia that could bring increased shipments of Russian natural gas through the Balkan country if Ukraine ends a gas transit agreement with Moscow

semiconductors and electronics in the one year since President Joe Biden signed off on a law that promotes the sector. In June, US-based Intel said it would invest $33 billion in Germany to expand in Europe. The number of semiconductor fabs processing 300-mm wafers globally is projected to jump from 138 in 2020 to 180 in 2023 and 233 in 2027.

Elon Musk announced the removal of block features on X. Whatsapp introduced a new feature where users can now send HD images and more. Here is a recap for you: Elon Musk, owner of the social media platform X (formerly Twitter), has announced the removal of the block feature, except for direct messages.

USTR) Katherine Tai will visit India next week for the G20 Trade and Investment Ministers’ Meeting (TIMM), Washington said in a statement. On August 23-25, Tai will be in Jaipur for the TIMM where she would participate in G20 sessions on how enhanced multilateral trade can facilitate inclusive prosperity and increased global resilience. “She will also hold bilateral meetings with her counterparts on the margins of G20 events,” USTR office said in a statement. On August 26, Tai will meet with business leaders and hold bilateral meetings with government officials. India has identified five priority issues—growth and prosperity, resilient global value chains, MSMEs, logistics, and World Trade Organization (WTO) reform—under its G20 presidency from December 1, 2022 to November 30, 2023.